Shares of Travel Food Services (TFS), the airport-focused quick service restaurant and lounge operator, ended their first trading session on a weak note despite listing at a premium. The stock closed over 2 percent lower on both the NSE and BSE, even as investor interest in its IPO had been reasonably strong.
On the NSE, TFS shares opened at Rs. 1,125 — a 2.27% premium over the issue price of Rs. 1,100 — and touched an intraday high of Rs. 1,130. However, the momentum fizzled through the day, with the stock hitting a low of Rs. 1,066 before settling at Rs. 1,074.80, down 2.29% from its listing price. Trading volumes stood at a robust 49.42 lakh shares.
Similarly, on the BSE, the stock closed at Rs. 1,075.20, down 2.25%, with a volume of 5.64 lakh shares. At the close of trade, Travel Food Services commanded a market capitalisation of Rs. 14,158 crore.
The company’s Rs. 2,000 crore IPO, which ran from July 7 to 9, was subscribed 2.88 times. The offer consisted solely of an offer-for-sale (OFS) by the promoter entity Kapur Family Trust, meaning the company itself did not receive any proceeds from the public issue.
Despite the muted listing performance, Travel Food Services has showcased strong financial growth. In the fiscal year ended March 2025, the company reported a 27.4% year-on-year rise in net profit to Rs. 379.7 crore, up from Rs. 298.1 crore in the previous year. Revenue from operations rose 21% to Rs. 1,687.7 crore during the same period.
TFS operates a widespread network of quick service restaurants and airport lounges across India, serving a fast-growing segment of transit consumers in key airports.
